Endowment Compensation

AndyCosford

Hi there,

I made my complaint through the Financial Ombudsman and it was upheld, unfortunately, the company concerned have not yet honoured the award which should have been settled by Nov 05.

The Ombudsman have advised me that they have no power to enforce the award and that I need to go through the Courts to have them enforce it, as yet I have not been able to ascertain how I can do this, as the Ombudsman has awarded a calculation and not a figure so the small claims route does not seem to apply, as it is only for cash amounts only.

Do you have any advice on how I get the award enforced?

Regards


Andy

dunstonh

Do you have any advice on how I get the award enforced?

A solicitor should be in the position to help you. Although they would expect you to have taken some action first before going with them. Such as put in writing that you havent received your compensation and why and that if no response is received within 30 days you will refer the case to a solicitor and the FSA.

Sometimes just the threat of legal action can be enough to get it paid. Also, write to the FSA after the 30 days. You may or may not get any luck from this route but the company could be sparked into action by the threat of the FSA.